H&R Block may issue more debt or equity: filing

JohnSpence

BOSTON (MarketWatch) -- H&R Block Inc.
HRB, -0.37%
in a Securities and Exchange Commission filing Thursday said further turmoil in the credit markets or a violation of covenants under its unsecured committed lines of credit could affect its access to funding. "In addition, it is possible that the borrowing capacity under our [committed lines of credit] may not be sufficient to meet our financing needs," H&R Block said. "To meet our future financing needs we may be required issue additional debt or equity securities." The company said the termination of mortgage-lending activities at Option One Mortgage Corp. is expected to result in a pretax restructuring charge of $74.8 million. H&R Block said it saw a net loss of $1.55 a share for the quarter ended Oct. 31.

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